Farmer’s planting intentions shock the market

Agriculture

I’m Clinton Griffiths with today’s AgDay Minute.

Grain markets, making huge moves upward following a USDA report on what it thinks farmers will be planting this spring. It says farmers will plant 91.1 million acres of corn this year. That’s up less than 1-percent over last year. Soybeans, 87.6 million acres, that’s up 5-percent from 2020. Both corn and soybeans, coming in well below what the market expected. For wheat, 46.4 million acres also up 5-percent.

New York’s governor has signed a bill legalizing recreational marijuana. According to the governor’s office, taxes collected from this measure are projected to reach 350-mil ion dol ars a year. Some of that money would go towards education and drug treatment. The state is creating an office of cannabis management. It will issue licenses for different steps of the supply chain, including farming, processing, distribution, dispensaries, and retail consumption sites.

Strawberries are a summertime favorite and it looks like this will be a good year for the California crop. The USDA reports the state’s strawberry production should ultimately be larger than last year’s. It says California farmers planted more strawberries last fall which should lead to a bigger harvest this season. The report says Americans’ strawberry consumption has more-than-doubled since the turn of the century. For more ag news watch AgDay, weekdays on this station. Or anytime at agweb.com.

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